A block of flats in a small village with stunning country views is up for sale at just ten pence per apartment.
The 10 flats in the block called Yr Hafan - Welsh for “The Haven” – are going to auction with a £1 list price.
And the auctioneer insists the flats in the village of Pantygog, near Bridgend, South Wales, could be yours for just a quid.
Auctioneer Marc Morrish said: “The price of the block of flats is £1. I will invite offers of a pound to begin the auction and if no-one else bids, the flats will be sold for this amount.
“So yes, if there are no other bids, you will be able to buy it for £1.”
The block of 10 one-bedroom homes are being sold by a housing association.
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He said: “The housing association want to ensure that the block is sold, hence the £1 guide price and no reserve.”
“I can’t comment on what I think the property will eventually sell for, but the starting price is a pound as the lot has to have a monetary value put on it.”
The block is being sold as 10 vacant units and it has been vandalised in the past, the site is now secure.
Marc said there is “some cosmetic work” to do inside the building.
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Marc, of agents Seel and Co, added: “I think the eventual winning bidder will be an experienced property developer or builder. You really need to be experienced to take on a big project like this.”
The most obvious future for the building is up for rent - with Marc estimating that each could get a rent in the region of £250 a month.
Marc said: “The tenants are likely to be sole occupants, a couple or even a small family and may well be higher maintenance tenants, so I’m expecting experienced landlords to also be interested in this lot.”
The flats are believed to be the cheapest on the market in the UK - costing £5m less than similar sized properties in London.
Several one-bedroom flats in Knightsbridge are currently for sale for over £5.5million – with ones in Manchester and Bristol fetching more than £300,000.
Auctioneer Marc said there are plenty of reasons for buyers wanting to snap up the flats.
He said: “The block is located on the main road through Pantygog - local shops, amenities and school are located in Pontycymer, good access is also available to the M4.”
There is also the picturesque Bryngarw Country Park nearby for walkers and cyclists or the McArthur Glen retail park less than six miles away in Bridgend.
And Marc insists the flats are the cheapest he has ever seen.
He said: “There are no real comparisons in the area to guide the selling price of each unit, the closest I’ve sold is a few years ago up the road in Blaengarw.
“These were one bedroom flats within a converted terrace house that sold for £45k each.”
And although he thinks the properties will be rented out, Marc says there is potential to sell them as individual units for around £30,000.
Neighbouring houses in the village are currently on the market for £90,000.
